The Bookmark is an online bookseller. When books are purchased, the shipping fees are added to the price. The table shows how sh
ipping fees are calculated. Purchase Total Less than $20 $20-$34.99 $35-$49.99 Greater than $50 Shipping Fees 3% of total 4% of total 6% of total 8% of total Sonja bought 3 books priced at $11.35, $9.50, and $14.70. Part A Determine the shipping fees for Sonja's order. Round the answer to the nearest hundredth if necessary. $ Part B What is Sonja's total cost including shipping? IOT Ha E
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Answer:
Monthly payments=$418.14
Total amount will be=down payment + 48×$418.14
$14000+$20070.84=$34070.84
Step-by-step explanation:
Loan payment per month=Amount to pay÷discount factor
Mathematically P=A÷D
where D is the discount factor calculated using the formula;
where i=periodic interest rate=annual rate divided by number of payment periods
A is the amount to pay after downpayment
P is the loan monthly payment amount
n=number of periodic payments=payments per year times number of years
⇒In this question you find the discount factor then divide the amount remaining to pay with the discount factor to get monthly payments
Given;
Cost of boat=$32000
Down payment=$14000
Loan to pay=$32000-$14000=$18000
Annual rate=5.5%=i=5.5%÷12=0.458%⇒0.00458
Periodic payments, n=4×12=48
Finding the discount factor D;
To get the amount to pay monthly divide the loan to pay with the discount factor
Monthly payments=$418.14
Total amount will be=down payment + 48×$418.14
$14000+$20070.84=$34070.84